Wilmette IL Real Estate Market Action Report October 2012

Wilmette's September Property sales were 25, up 19.0% from 21 in September of 2011 and -57.6% lower than the 59 sales last month. September 2012 sales were at their highest level compared to September of 2011 and 2010. September YTD sales of 337 are running 24.4% ahead of last year's year-to-date sales of 271.

The Median Sales Price in September was $645,000, up 23.2% from $523,575 in September of 2011 and up 1.6% from $635,000 last month. The Average Sales Price in September was $758,780, up 15.8% from $655,099 in September of 2011 and up 10.6% from $686,178 last month. September 2012 ASP was at highest level compared to September of 2011 and 2010.

The Total Inventory of Properties available for sale as of September was 160, up 3.2% from 155 last month and down -29.8% from 228 in September of last year. September 2012 Inventory was at the lowest level compared to September of 2011 and 2010.

The September 2012 Months Supply of Inventory of 6.4 months was at its lowest level compared with September of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.

The average Days On Market (DOM) is how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for September was 39, down -30.4% from 56 days last month and down -55.2% from 87 days in September of last year. The September 2012 DOM was at its lowest level compared with September of 2011 and 2010.

The Selling Price vs Listing Price is the average amount that Sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The September 2012 Selling Price vs List Price of 95.2% was up from 94.6% last month and up from 94.0% in September of last year.

The number of New Listings in September 2012 was 43, down -21.8% from 55 last month and down -6.5% from 46 in September of last year.